Morgan Stanley analyst Joshua Pokrzywinski has named Emerson Electric (EMR) as a Top Pick, replacing the analyst’s prior Top Pick Eaton (ETN). Emerson has emerged as "one of the few idiosyncractic stories in Multis" and the firm believes the catalyst path is positive, the analyst tells investors. Feedback from the firm’s upgrade of shares last week was "mostly positive," with the main risk seen being Emerson potentially overpaying for National Instruments (NATI), which the firm believes has a "low probability." Morgan Stanley has an Overweight rating and $96 price target on Emerson shares.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on EMR:
- Emerson Electric upgraded to Overweight from Equal Weight at Morgan Stanley
- Emerson Electric selected to automate photovoltaic project in New Zealand
- Emerson selected to automate Golden Triangle Polymers facility
- Emerson Electric upgraded to Buy from Neutral at UBS
- Emerson Electric price target lowered to $105 from $115 at Cowen
Questions or Comments about the article? Write to editor@tipranks.com